CSE stares at uncertain future on Samvat 2076

Kolkata: Calcutta Stock Exchange (CSE) continues to stare at uncertain future when two major bourses in the country are gearing up for Muhurat Trading to mark the beginning of Samvat 2076.

The stock exchange in the city enters into the seventh year of trading suspension after the capital market regulator, Securities and Exchange Board of India (SEBI), had barred trading at C-Star (the online platform of CSE), for non- compliance of clearing and settlement norms. "It is status quo for CSE. There is no clear direction as of now," a senior official said. On the occasion of Diwali, stock exchanges hold the Muhurat Trading, one-hour session, which is considered auspicious to mark the beginning of the Hindu calendar year, called Samvat. This year, the special session will be held on Sunday from 6.15 pm to 7.15 pm.

The only surviving regional bourse has been unable to find "a solution" so far and continues to fight a legal battle with the regulator, sources said.

A few employees of the exchange spoke about the "uncertain future" and were looking forward for a revival.

CSE had earlier said it was in the process of filing an application with SEBI for setting up a MSME Exchange for clearing function with any of the existing clearing corporation.